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When loans' LTVs hit 80%, Bitcoin stakes are liquidated in seconds
Equipment ABS issuance gathers momentum as investors appreciate diversification
US market remains the model as template issuance takes shape
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Palmer gets interim ECM head gig at BofA — Clarke to join JP Morgan for FIG — Paz-Galindo promoted at UBS -
WiZink Bank, which acquired Barclaycard's Portuguese operation, has retained a €505m credit card ABS deal.
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Small business lender OnDeck has agreed to a $90m cash and stock deal with Enova after months of struggling through the pandemic crisis. The acquisition is the first in an expected wave of consolidation, as Covid-19 tests the resilience of online lenders, sources say.
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Colin Parkhill has left Lloyds Bank to join Deutsche Bank as its head of European ABS and CLO syndicate.
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Key government stimulus benefits are set to expire at the end of the month, and as Congress works out what the next coronavirus aid package will look like, the ABS market will see spreads fluctuate and delinquencies spike, with consumer assets to be hardest hit.
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Private specialty finance company Ag Resource Management (ARM) named Rasool Alizadeh as chief financial officer and president of capital markets. Alizadeh joins from FortiFi, a growing Property Assessed Clean Energy (PACE) lender that issued its first securitization last year.
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The European Commission has included measures to improve the regulatory framework for non-performing loan securitizations in its latest coronavirus response package, while also beginning the classification of synthetic securitizations to qualify for the ‘simple, transparent and standardised’ (STS) designation.
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Lloyds Bank Corporate Markets has appointed Eve Marlborough as a director in its bond syndicate team following the resignation of Colin Parkhill.
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UniCredit sold two non-performing loan (NPL) portfolios worth a combined £1.54bn over Tuesday and Wednesday this week, both through a securitization vehicle which sold notes to Barclays and Guber Banca.
